NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of AeroVironment, Inc. ("AeroVironment") (NASDAQ: AVAV) concerning possible violations of federal securities laws. The investigation relates to statements made by AeroVironment concerning its second quarter results for fiscal 2022 and its revenue guidance for the remainder of the year.
On December 7, 2021, AeroVironment announced second quarter results below market estimates and reduced revenue guidance for the remainder of the fiscal year from a range of $560 million to $580 million to a range of $440 million to $460 million. AeroVironment also lowered its EBITDA guidance from $105 million to $110 million to $59 million to $65 million. On this news, AeroVironment’s stock declined the following day by nearly 30% to close at $57.98/share causing significant losses to shareholders at the time.
To obtain additional information, go to:
https://zlk.com/pslra-1/aerovironment-lawsuit-submission-form?wire-3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
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New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
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